CarMax Inc (KMX) Sets New 1-Year High at $69.15
CarMax Inc (NYSE:KMX) hit a new 52-week high on Wednesday . The company traded as high as $69.15 and last traded at $69.10, with a volume of 1,293,145 shares changing hands. The stock had previously closed at $69.02.
A number of equities research analysts have weighed in on the company. UBS AG lowered CarMax from a “positive” rating to a “neutral” rating in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $74.00 price objective (up previously from $72.00) on shares of CarMax in a report on Thursday, June 22nd. Deutsche Bank AG lowered their price objective on CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “market perform” rating and issued a $63.00 price objective (down previously from $71.00) on shares of CarMax in a report on Tuesday, July 4th. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $70.00 price objective (up previously from $66.00) on shares of CarMax in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $69.15.
The company has a 50 day moving average of $65.31 and a 200 day moving average of $62.48. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 19.84 and a beta of 1.32.
CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.15. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.46 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. On average, equities research analysts expect that CarMax Inc will post $3.71 earnings per share for the current fiscal year.
In related news, Director Thomas J. Folliard sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $61.41, for a total transaction of $3,070,500.00. Following the completion of the sale, the director now directly owns 509,166 shares in the company, valued at $31,267,884.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohammad Shamim sold 13,938 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $66.08, for a total transaction of $921,023.04. Following the sale, the senior vice president now owns 9,218 shares of the company’s stock, valued at $609,125.44. The disclosure for this sale can be found here. Insiders have sold 188,515 shares of company stock valued at $12,085,019 over the last 90 days. 1.90% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of KMX. Korea Investment CORP boosted its holdings in CarMax by 140.5% during the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after buying an additional 1,033 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in CarMax during the second quarter worth approximately $112,000. Bronfman E.L. Rothschild L.P. boosted its holdings in CarMax by 2.4% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock worth $124,000 after buying an additional 49 shares in the last quarter. Seven Eight Capital LP bought a new stake in CarMax during the second quarter worth approximately $133,000. Finally, QS Investors LLC boosted its holdings in CarMax by 1.0% during the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after buying an additional 22 shares in the last quarter.
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CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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